Tata Steel Subsidiary to Set Up New Manufacturing Plant
Steel News | 2024-01-01 21:36:32
Moreover, it will contribute significantly to the state’s industrial growth by boosting domestic as well as export markets.
By Paul Ploumis
SEATTLE (Scrap Monster): The Tinplate Company of India Limited (TCIL), a Tata Steel subsidiary, announced its decision to invest approximately INR 1,800 crore towards setting up a new manufacturing facility in Jamshedpur, Jharkhand. The 3-lakh tonnes per annum facility is slated for commissioning in 2026.
An agreement to this effect was signed between company officials and state government representatives at a ceremony held recently. The facility is expected to generate around 600 direct and indirect jobs in the region.
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The TCIL press release stated that the landmark MoU will help the company to enhance its manufacturing capabilities by incorporating cutting edge technologies and implementing high levels of automation. Moreover, it will contribute significantly to the state’s industrial growth by boosting domestic as well as export markets.
The groundbreaking ceremony of TCIL’s expansion project in Jamshedpur was held earlier in April this year, which was attended by the state’s Chief Minister Hemant Soren.
Commenting on the development, R N Murthy, Managing Director of TCIL noted that the company is committed to partner with the government and local communities to promote economic and social development of the region. It plans to provide skill development opportunities for the local workforce, he added.
